Lex Fridman Podcast
#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech
Bill Ackman
And that helped the short-term results of the business. The problem was during the financial crisis, the market for what's called CMBS, commercial mortgage-backed securities, basically shut. And the company, because its debt was relatively short-term, had a lot of big maturities coming up that they had no ability to refinance. And the market said, oh my God,
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